Petty Enterprises just signed a partnership with Boston Ventures and resigned Bobby Labonte to a four year contract extension. Their hope is to be as competitive as Hendrick Motorsports, Richard Childress Racing, Joe Gibbs Racing, etc.
Their will be no name change. "The King" Richard Petty will still be hanging around there and will be in all of the meetings.
Richard quotes, "As long as it says Petty on it, I'll have something to do with it."
Petty Enterprises knows that this isn't going to happen overnight. But the number one thing they want to do is get the 43 and the 45 car back to victory lane.
So watch for some change in the performance of the Petty Enterprises teams.